Two of the following statements are incorrect. Select the two statements that are incorrect and explain why they are incorrect.

Statement 1: "There is no difference between credit risk and default risk"

Statement 2: "Credit risk assessment relies on both qualitative and quantitative models"

Statement 3: "The promised loan rate is inversely proportional to the expected return on a loan"

Two of the following statements are incorrect. Select the two statements that are incorrect and explain why they are incorrect. Statement 1 : "There is no difference between credit risk and default risk" Statement 2: "Credit risk assessment relies on both qualitative and quantitative model s' Statement 3: "The promised loan rate is inversely proportional to the expected return on a loan"